Brevan Launches New Credit Fund With $20M Minimum

Jun 22 2012 | 11:56am ET

Brevan Howard Asset Management is asking clients to dig deep for its latest hedge fund.

The new Brevan Howard Credit Value Master Fund has a hefty minimum investment requirement—$20 million—and a potentially onerous lockup—as long as two years, depending on the share class. But for those willing to pony up, Brevan is promising a raft of "excellent opportunities" this year that will make their commitment worthwhile.

The fund will invest mortgage-backed securities, real-estate linked collateralized debt obligations and other illiquid securities, seeking out those trading below their "intrinsic value," Bloomberg News reports. Brevan's thesis is that such assets lost so much value last year that, combined with assets sales by European banks and other motivated sellers, it will leave the fund with an embarrassment of rich opportunities.

Brevan launched the fund in March. It is managed by David Warren, head of its Credit Catalysts fund.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note